Job Prospects Bright in Tech Sector Say 2 out of 3 Industry Insiders

The outlook for jobs in the European technology sector are very positive with almost 60% of firms expecting to increase recruitment over the next 12 months according to the annual IT confidence survey by Eurocom Worldwide, the global PR network.

58% of firms surveyed expect to increase jobs with only 8% expecting to decrease headcount. The Eurocom survey finds that one in three firms are now finding it more difficult to recruit than last year. The skills most in demand are software engineers followed by project management specialists and international sales people.

“The IT recovery is reflected in the fact that a skills shortage is now seen as the third most likely threat to growth in the sector,” commented Mads Christensen, Eurocom Worldwide Network Director. A slowdown in the global economy and further oil price increases are seen as the major threats.

The Eurocom study predicts a continuing growth of technology manufacturing jobs in low labour cost centres, especially China. The vast majority of respondents (76%) agreed with the comment that Europe and the US are rapidly losing their lead as technology manufacturing centres because of the rise of low cost locations such as China and India. Just 11% of respondents disagreed with this statement.

71% of those surveyed said that China will record the biggest growth in IT manufacturing jobs over the next three years followed by India (17%).

Firms are bullish on sales with 79% expecting to increase revenues and only 3% anticipating a downturn. Over half (53%) are more confident than last year with only 3% being less confident.

Respondents are divided on the outlook for the US economy. 21% are more confident for growth prospects for the US but this is mirrored by 20% who are less confident. 59% believe that the US economy will mark time.

“The jury is out on the US economy,” commented Mads Christensen, Eurocom Worldwide Network Director. “The uncertainty probably reflects concerns over the widening US trade deficit.”

Views are also mixed on the outlook for the tech heavy NASDAQ. While 58% expect it to increase, 34% expect it to show no growth while 8% forecast a decline in the NASDAQ.

Almost 300 CEO, director or VP level executives responded to the survey in 20 European countries.

Notes For Editors:
Eurocom Worldwide is a collaboration between independent, privately owned communications agencies offering unrivalled expertise in international communications campaigns executed by local people. Eurocom Worldwide has 27 member agencies comprising over 1,100 communications specialists and consultants in 49 national capitals and centres of commerce around the globe. The alliance specialises in Business to Business Communications with a technology focus. For more information, visit www.eurocompr.com.

Founded in 1994, Schwartz Public Relations is one of Germany’s leading PR agencies with broad expertise in the fields of technology, IT, telecommunications and consumer electronics as well as industrial services, energy, tourism and the logistic sector. Munich based Schwartz PR serves clients on both an international and national level and is Eurocom Worldwide’s exclusive member agency for Germany, Austria and Switzerland. 2017 Schwartz Public Relations has won the EMEA Sabre Award for “Best Continental Consultancy to Work For”.